TUNISIA: Serinus Energy Provides Operational Update

Serinus Energy has reported that the workover to install the first submersible pump for the Artificial Lift programme has commenced at the Sabria field in Tunisia. Additionally, plans for additional pumps in the Sabria field are being progressed.

A major project for the operations in Tunisia had 2022 is the introduction of the first Artificial Lift programme to be implemented on the W-1 well in the Sabria field. The W-1 is a currently suspended well that was identified as a candidate to benefit from the installation of a pump. The Company agreed a rig contract with the Compagnie Tunisienne de Forage (CTF), the national drilling company. The contract allowed for the provision of a drilling rig to conduct the W-1 workover. The CTF-006 rig was originally scheduled to have been delivered to the W-1 site in May 2022 but CTF defaulted on the contract until it provided CTF-004 in late 2022 leading to the delays in pump installation.

Following the successful completion of the W-1 workover and pump installation the Company anticipates
commencing a programme to install artificial lift in the remaining candidate wells in Sabria.

“As we look beyond the artificial lift programme our teams are preparing the technical work for new wells. As part of the longer-term strategy the Company would be eager to have the conditions allowing for new producing wells to be drilled in Sabria,” says Serinus Energy Chairman Lukasz Rędziniak.

• Workovers in the Chouech Es Saida field continue the increased production from wells CS-3 and CS-1
• Production for the year averaged 889 boe/d, 510 boe/d being in Tunisia.